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Islamic banking News

Reserve Bank of India

12 Nov 2017

RBI says no to Islamic banking in India

Replying to an RTI query, the central bank said the decision was taken after considering "the wider and equal opportunities" available to all citizens to access banking and financial services.

27 Feb 2017

Can't share details of govt response on Sharia banking: RBI

The response given by the Finance Ministry on an RBI report about the introduction of Sharia banking in India cannot be disclosed, the central bank has said.

Islamic banking

28 Nov 2016

'Islamic window' in conventional banks would attract trillions of dollars from Gulf nations: ICIF

The RBI's proposal to open up "Islamic window" in conventional banks will lead to trillions of dollars from Gulf nations getting invested in India, said an organisation pushing for Islamic financial banking.

20 Nov 2016

RBI proposes 'Islamic window' in conventional banks for gradually introducing Sharia banking

The Reserve Bank of India (RBI) has proposed opening of "Islamic window" in conventional banks for "gradual" introduction of Sharia-compliant or interest-free banking in the country.

Islamic banking

10 Oct 2016

J&K Bank willing to offer Islamic banking, says chairman

Jammu and Kashmir Bank is willing to offer Islamic banking to customers in the state and would examine the proposal after taking the Reserve Bank on board, its chairman Parvez Ahmad said on Monday.

Islamic banking

05 Sep 2016

As Raghuram Rajan departs, RBI opens door to Islamic finance

The Reserve Bank of India (RBI) has proposed working with the government to introduce interest-free banking to tackle financial exclusion for religious reasons, potentially opening Islamic finance to the largest Muslim minority population in the world.

30 Aug 2016

RBI, govt exploring introduction of interest-free banking

Reserve Bank and the government are exploring introduction of interest-free banking, also known as Islamic Banking, to financially include sections of the society that remains excluded due to religious reasons.

Reserve Bank of India

29 Dec 2015

RBI panel recommendations hint at reviving Islamic Banking?

The “Report of the Committee on Medium-term Path on Financial Inclusion” headed by Deepak Mohanty was placed on Monday.

Islamic banking

05 Dec 2014

'Islamic banking assets to exceed USD 778 billion in 2014'

Islamic banking assets with commercial banks in international markets are set to exceed a whopping USD 778 billion in 2014, according to a new report.

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